The proposed bill, General Assembly Committee Bill No. 5744, aims to prohibit businesses from requiring consumers to authorize the storage of their credit card and debit card information as a condition for entering into or amending consumer agreements. Specifically, it states that no business can mandate the storage of such information for automatic renewal or continuous services provisions. However, the bill allows businesses to temporarily store this information solely for processing payments for consumer goods or services that the consumer has specifically requested, provided that the consumer voluntarily submits their payment information and it is not stored beyond the necessary processing time.

Additionally, the bill empowers the Commissioner of Consumer Protection to adopt regulations to enforce its provisions and classifies any violations as unfair or deceptive trade practices under existing consumer protection laws. The act is set to take effect on October 1, 2025, and includes new definitions for terms such as "consumer agreement," "credit card," and "debit card," which align with existing statutes. The bill is co-sponsored by Representative Comey and Senator Martin.